AlphaCore Capital LLC Invests $371,000 in Lowe’s Companies, Inc. (NYSE:LOW)

AlphaCore Capital LLC purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,370 shares of the home improvement retailer’s stock, valued at approximately $371,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Eagle Asset Management Inc. increased its stake in shares of Lowe’s Companies by 3.0% during the third quarter. Eagle Asset Management Inc. now owns 13,824 shares of the home improvement retailer’s stock worth $3,748,000 after purchasing an additional 399 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Lowe’s Companies by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock valued at $912,508,000 after purchasing an additional 39,953 shares during the last quarter. Smithfield Trust Co increased its position in Lowe’s Companies by 0.6% during the 3rd quarter. Smithfield Trust Co now owns 8,018 shares of the home improvement retailer’s stock worth $2,174,000 after purchasing an additional 50 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Lowe’s Companies by 2.9% in the 3rd quarter. Pacer Advisors Inc. now owns 42,266 shares of the home improvement retailer’s stock valued at $11,448,000 after purchasing an additional 1,175 shares during the last quarter. Finally, LPL Financial LLC boosted its position in Lowe’s Companies by 3.9% in the third quarter. LPL Financial LLC now owns 813,617 shares of the home improvement retailer’s stock valued at $220,368,000 after buying an additional 30,740 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on LOW. Barclays raised their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a report on Wednesday. Morgan Stanley boosted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. UBS Group raised their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Truist Financial boosted their target price on shares of Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Trading Up 0.9 %

Shares of LOW opened at $265.50 on Friday. The company has a market capitalization of $150.62 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $196.23 and a 12-month high of $287.01. The business’s 50 day moving average is $268.56 and its 200 day moving average is $244.50.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the firm posted $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.82 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.73%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

About Lowe’s Companies

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.